Virtus Investment Partners (VRTS) Expected to Announce Earnings on Friday

Key Points

• Virtus Investment Partners (VRTS) is expected to announce quarterly earnings on October 24th, with analysts estimating an earnings per share of $6.77 and revenue of $198.8 million.
• The company has recently declared a $2.40 quarterly dividend, marking an increase from the prior $2.25, with a dividend yield of 5.2%.
• Analysts have varying outlooks on the stock, with price targets ranging from $150 to $234, resulting in an average target price of $190.50.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) is projected to release its results before the market opens on Friday, October 24th. Analysts expect the company to announce earnings of $6.77 per share and revenue of $198.8160 million for the quarter.

Virtus Investment Partners (NASDAQ:VRTS - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The closed-end fund reported $6.25 EPS for the quarter, topping the consensus estimate of $6.17 by $0.08. The company had revenue of $210.53 million for the quarter, compared to the consensus estimate of $191.90 million. Virtus Investment Partners had a return on equity of 21.56% and a net margin of 13.42%.During the same period in the previous year, the business posted $6.53 EPS. On average, analysts expect Virtus Investment Partners to post $28 EPS for the current fiscal year and $30 EPS for the next fiscal year.

Virtus Investment Partners Stock Performance

Shares of NASDAQ VRTS opened at $183.15 on Friday. The company has a quick ratio of 11.86, a current ratio of 11.86 and a debt-to-equity ratio of 0.27. The business's 50 day moving average is $193.56 and its two-hundred day moving average is $181.97. The company has a market cap of $1.24 billion, a P/E ratio of 10.84 and a beta of 1.43. Virtus Investment Partners has a 12 month low of $142.18 and a 12 month high of $252.82.

Virtus Investment Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 31st will be given a $2.40 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $9.60 annualized dividend and a yield of 5.2%. This is an increase from Virtus Investment Partners's previous quarterly dividend of $2.25. Virtus Investment Partners's dividend payout ratio (DPR) is presently 46.74%.

Analysts Set New Price Targets

Several research analysts have commented on VRTS shares. Barclays lifted their price target on Virtus Investment Partners from $150.00 to $190.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 16th. Piper Sandler boosted their price objective on Virtus Investment Partners from $211.00 to $234.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Finally, Morgan Stanley boosted their price objective on Virtus Investment Partners from $170.00 to $180.00 and gave the company an "underweight" rating in a research report on Monday, October 6th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Virtus Investment Partners currently has an average rating of "Reduce" and an average target price of $190.50.

Institutional Trading of Virtus Investment Partners

A number of large investors have recently bought and sold shares of the stock. Osaic Holdings Inc. grew its position in Virtus Investment Partners by 90.4% in the second quarter. Osaic Holdings Inc. now owns 316 shares of the closed-end fund's stock valued at $57,000 after acquiring an additional 150 shares during the period. Public Sector Pension Investment Board grew its position in Virtus Investment Partners by 5.9% in the second quarter. Public Sector Pension Investment Board now owns 22,197 shares of the closed-end fund's stock valued at $4,027,000 after acquiring an additional 1,244 shares during the period. State of Tennessee Department of Treasury grew its position in Virtus Investment Partners by 7.8% in the second quarter. State of Tennessee Department of Treasury now owns 7,238 shares of the closed-end fund's stock valued at $1,313,000 after acquiring an additional 522 shares during the period. Oxford Asset Management LLP bought a new stake in Virtus Investment Partners in the second quarter valued at $217,000. Finally, Man Group plc grew its position in Virtus Investment Partners by 12.7% in the second quarter. Man Group plc now owns 36,577 shares of the closed-end fund's stock valued at $6,635,000 after acquiring an additional 4,116 shares during the period. 80.52% of the stock is currently owned by institutional investors.

About Virtus Investment Partners

Virtus Investment Partners, Inc is a publicly owned investment manager. The firm primarily provides its services to individual and institutional clients. It launches separate client focused equity and fixed income portfolios. The firm launches equity, fixed income, and balanced mutual funds for its clients.

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